Millennials Are Screwed?

[gap height=”15″][gap height=”15″]
A recent and popular article on huffingtonpost.com discussed how Millennials are finding it increasingly difficult to get by and are facing a scary financial future. The article cites how young adults today are only half as likely to own a home as adults in 1975, and that Millennials (those born between 1982 and 2004) have 300% more student debt than the Boomer generation. Is it true that Millennials are screwed?

[gap height=”15″][gap height=”15″]
Let’s first look at two facts today:

1.  Salaries Are Stagnant. We all know things are tough out there. If it were easy, everyone would be a millionaire, right? Since the 1970s, the hourly inflation-adjusted wages earned by the typical worker have barely risen, growing only 0.2% per year.
2. Cost of Living is Rising. Basic essentials like food, rent, transportation and tuition keep going up. A dollar isn’t what it used to be, and in a few years, a dollar won’t even be what it is now. The cost of goods is rising faster than wages.

[gap height=”15″]
When you combine stagnant wages and rising costs, you get people who are being squeezed out of the middle class. There are 75 million Millennials in the USA … how do they close this widening gap?

[gap height=”15″]
The truth is, it’s NOT just Millennials. Gen X, Gen Y, Boomers, whatever generation in which you classify yourself, these same two problems affect everyone. Lower wages, rising costs. We live on an economic planet, and the economy doesn’t know anything about you – it doesn’t care about your age, race, your location or your beliefs.

[gap height=”15″]
What are you going to do now? You have to close the gap between where you are and where you want to be. How do you go from where you are to where you want to be? Instead of whining, focus on doing something.

[gap height=”15″]
By the way, Millennials, if you’re complaining about your financial situation right now, talk to my mom who grew up in the 1920s and she would think you’re crazy. You ate at Chipotle yesterday. You use Uber – she never had a car. If you have higher rent and more debt than your parents did, if you can’t save anything, if you’re bitching and complaining, listen to this:

[gap height=”15″]
You don’t need to live on 40K a year. YOU are the problem.

[gap height=”15″]
It’s not the economy. It’s not the government. It’s not the Boomers. It’s YOU. You have no money because you haven’t closed the gap between where you are and where you want to be. That gap is how you measure success. It’s the difference between you and your potential.

[gap height=”15″][gap height=”15″]
To help close that gap, answer these 3 questions:

1. What is The Target? If you don’t know your targets, you’ll never hit them. Too many people focus on the problem. Focus on the target! What is success to YOU? What are your financial goals?
2. Who Can Help You Get to Your Target? Strangers have everything you want. There is so much money in the world – you need to start asking, “Who’s got my money?”
3.  How Can You Get Connected? Is it a phone call, a personal visit, an email? You need to reach out to where the opportunity is.

[gap height=”15″]
Remember, the economy doesn’t know anything about your age. How do you close the gap between where you are and where you want to be?
[gap height=”15″][gap height=”15″]

The economy doesn’t know anything about you – it doesn’t
care about your age, race, your location or your beliefs.